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Last minute adjustments to estimated crop production cost budgets for 2012

A farm’s crop mix for 2012 may need to be adjusted following the USDA’s crop report that hit the press last week. Farms can use this new Crop Budget Simulation Template, which has been updated to reflect current costs.

Posted on April 5, 2012 by Dennis Stein, Michigan State University Extension

With
commodity markets now focused on the 2012 production year, most farms have put
together the final adjustments to their 2012 crop budgets and crop rotation plans.
However, if you are starting to second guess your plan and want to do some
quick evaluations of how your current crop mix will stack up, you can consider your
options by utilizing a crop
production cost template (2012 Crop Budget Simulation Template) provided by
a Michigan State University Extension educator. You can find two updated excel
template versions available for your consideration. One template will allow you
to input your farm’s seed, fertilizer and chemical options, and use a set of
custom machine cost to allow you to look at how your farm could cover some of its
fixed and overhead costs. The second option is a more detailed production and
cost budget that ask you to estimate your farm’s overhead and operational
costs. Both templates are designed to allocate your farm’s production costs on
a crop by crop format giving you a picture of how your crop mix compares using
a similar budget format. These templates are a quick way for you to compare the
expected returns for each crop enterprise.

Every
farm has the challenge of pulling together their own farm’s cost estimates and the
projection of their potential returns. Using a computer simulation model allows
you the option to quickly make adjustments to current changes in the cost of
inputs or the crop market price shifts and estimate various “What ifs?” These
“What if?” events make real changes that impact your farm’s bottom line each
day depending on a wide variety of variables from weather to political events
that are taking place around the world.

November 3, 2016 | George Silva | Low to middle income countries in sub-Saharan Africa and south Asia are the most vulnerable to food insecurity. Several priorities to enhance the long-term food security in this region have been suggested.

September 22, 2016 | George Silva | The 2016 Global Food Security Index reports most countries made modest improvements in the past five years. Long-term threats need to be addressed to sustain this progress.

August 22, 2016 | Jim Isleib | There are many underground pipelines delivering natural gas and hazardous liquids on many farms in Michigan. Any farm activity involving soil depth greater than 12 inches should be preceded by an “811 call.”